Trivedi told CNBC-TV18, “Given the way markets have moved in the month of April we think in May also markets should head higher. Our target for Nifty is at around 6,000 levels. This is coming predominantly from the fact like there is some expectation of rate cut from Reserve Bank of India (RBI) and European Central Bank (ECB), plus the continuation of stimulus from Bank of Japan (BoJ) and the US Federal Reserve.”

He further added, “Also compared to developed markets emerging markets (EM) has still not reached a valuation level which is alarming. So, there could be some kind of rally in markets. One can buy ICICI Bank at around Rs 1131 levels for a target of around Rs 1180-1200 in days to come. One can place a stop loss at Rs 1080.”